Friday, July 15, 2011

FBMKLCI 1579.84 DJ-54.49 CRUDE OIL 96.30 RM 2.9730

Daya Materials Bhd has secured a RM120 million contract from B Braun Medical Industries Sdn Bhd to build a new six-storey building in Bayan Lepas, Penang. Daya’s unit Daya CMT Sdn Bhd was awarded the contract on June 22 and it involved building a one-storey utility plant rooms, a building for multi-level parking and a two storey multi-purpose building.

Hua Yang’s net profit for the first quarter ended June 30, 2011 surged 133% to RM11.48 million from RM4.91 million a year earlier, due mainly to higher sales achieved. Revenue for the quarter rose 66% to RM61.75 million from RM37.22 million. Earnings per share were 10.63 sen while net assets per share were RM2.15. Hua Yang also proposed a bonus issue of 36 million shares on a one-for-three basis. The company expects the corporate exercise to be completed in the second half of 2011.

Tradewinds Plantation, which had proposed to acquire Mardec Bhd, plans to build an integrated rubber-city in Kota Putra in Kedah, possibly a year from now. Bernama reports its CEO Chan Seng Fatt as saying the integrated rubber city, which is set to provide a free trade rubber area would attract foreign investors to the country.

Dialog Group Bhd’s unit has proposed to acquire a 51% stake in India’s Anewa Engineering Private Ltd for RM7.88 million which would further provides access to new customers in various parts of the world namely in the Middle East and India. It said on Thursday, July 14 Anewa is an outsourcing company that provides engineering design to customers, mainly multinational companies in India, Middle East and Southeast Asia in the oil, gas and petrochemical industry.

Atlan Bhd posted net profit of RM92.35 million in the first quarter ended May 31, 2011 from RM24.21 million a year ago, boosted by sale of several pieces of land. Its revenue was marginally higher at RM177.29 million from RM175.96 million a year ago while earnings per share were 36.60 sen compared with 10.05 sen. The earnings were boosted the sale of six pieces of land measuring 43.95 acres in Penang by its unit Blossom Time Sdn Bhd for  RM104.42 million and a piece of land measuring 17.08 acres in Penang also for RM40.58 million

AirAsia is likely to have a joint venture with Japan's largest carrier - All Nippon Airways (ANA) - to set up a low cost airline likely to be called AirAsia Japan. An announcement on the collaboration is expected to be made next week and it would involve the setting up of a low cost carrier (LCC) and a hub in Japan by AirAsia. The LCC will serve the domestic market and eventually regional markets, sources say.

Wednesday, July 13, 2011

FBMKLCI 1578.10 DJ-58.88 CRUDE OIL 96.87 RM 2.9970

New stock listing

No.  Stock  Code    Stock Name     Reference Price      Lower Limit     Upper Limit
1.         5201             OLDTOWN                      1.25                  0.875                6.25


Old Town, Hwang DBS Vickers Research fair value was RM1.50 based on FY12 price-to-earnings of 12 times. Old Town operates café chain and coffee beverage manufacturing.


Petra Perdana Bhd has undergone a name change and will now be known as Perdana Petroleum Bhd.

BTM Resources Bhd’s subsidiary Syarikat Maskayu Sawmill Sdn Bhd has secured an agreement to extract forest products from the Terengganu state government.

Tuesday, July 12, 2011

FBMKLCI 1588.58 DJ -151.44 CRUDE OIL 95.03 RM 2.9710

Two local oil and gas (O&G) service providers, SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd, are set to merge and become the largest O&G service provider by asset size in the country, allowing it to undertake larger and more complex projects in a proposed deal valued at RM11.85bil. Both companies announced yesterday they received offer letters from special-purpose vehicle (SPV) Integral Key Sdn Bhd (IKSB) to buy up the assets and liabilities of both companies, to be paid for in cash and new shares in the new merged entity. Both SapuraCrest and Kencana will then distribute the cash and IKSB shares they receive, back to their shareholders. This will result in the current shareholders of SapuraCrest and Kencana owning shares in IKSB.

KPJ Healthcare Bhd’s wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB) has signed a joint venture deal with Yayasan Islam Perlis (YIP) to build and operate a hospital on a leasehold 4.33 acres in Kangar. The private healthcare facility will be known as KPJ Perlis Specialist Hospital.

Silk Holdings Bhd has secured four long term contracts worth a total of RM39.75mil from Petronas Carigali Sdn for the provision of four units of anchor handling tug supply vessel (AHTSV). Silk Holding said the contracts would not materially affect the results of Silk for the financial year ending July 31 but was expected to contribute positively to its earnings and assets for the financial year ending July 31, 2012.

Securities of Sunway Holdings Bhd and Sunway City Bhd (SunCity) will be suspended for trading from Aug 2 until the removal of both companies from the official list of Bursa Securities.  Both companies’ shareholders had agreed at an EGM last month to a proposal that would see a new company (newco) called Sunway Sdn Bhd take over Sunway and SunCity in a RM4.5bil deal via cash and share swaps.vNewco proposed to take over Sunway Holdings for RM2.60 a share and SunCity at RM5.10 a share, as well as buy Sunway Holdings and SunCity warrants at RM1.50 and RM1.29 respectively. Under the deal, new shares in newco will be issued, valued at RM2.80 per share. The newco will merge the assets and liabilities of Sunway and SunCity. A new Sunway entity is expected to be listed on the Main Market of Bursa Malaysia in the third quarter of this year.

Inari Bhd, which is en route to a listing on the ACE Market of Bursa Malaysia on July 19, had its initial public offering (IPO) oversubscribed by 10.42 times. At an issue price of 38 sen per share, Inari's IPO raised RM31.54mil in proceeds for the group. About RM17.5mil from the proceeds will be allocated for capital expenditure, including the building of a new assembly and manufacturing facility in Penang which is due to be completed in the first quarter of 2012.

Bumi Armada Bhd’s institutional price under its initial public offering (IPO) was fixed at RM3.03 per share after the completion of the bookbuilding process. In a Bursa Malaysia filing yesterday, the offshore oil and gas services provider stated that the final retail price was fixed at RM3.03 per share. The company will refund the 12 sen difference between the final retail price and the retail price of RM3.15 per issue share, within 10 market days from the date of the final ballot of the applications. The retail offering closed on July 7.